§ 2-12-106 — Trustee to take possession of property; powers and duties generally; removal of trustee; sale of property

Wyoming § 2-12-106

• Jurisdiction: Wyoming
• Title 02: Wills, Decedents' Estates and Probate Code
• Ch. 12: ADMINISTRATION OF ESTATES OF MISSING PERSONS

Text

(a) The trustee shall take possession of the real and
personal estate in this state of the missing person and collect,
receive and receipt for and hold subject to the order of the
court the rents, income, issues, profits and proceeds thereof
and all indebtedness owing to the missing person and pay out of
the trust funds the expenses of the trust and any indebtedness
of the missing person authorized by the court. The court may
direct the trustee to pay to the family of the missing person
such money for family expenses and support from the income of
the trust estate as the court from time to time may determine.
When directed by the court, the trustee shall account to the
court for all of the trustee's acts as trustee, and the court
may at any time upon good cause shown remove any trustee and
appoint another.
(b) When a sale of the real or personal property of the
estate of a missing person is necessary to pay the allowance of
the family or the debts outstanding against the missing person
or the expenses of administration of the trust, or when it
appears to the court it is for the best interest of all persons
interested in the estate, the trustee may sell any real or
personal property of the estate upon order of the court.
(c) The trustee in obtaining an order of sale and in
conducting a sale of property of the estate of a missing person
shall follow all the steps and procedure set forth in article 6
of chapter 7, Wyoming Probate Code relating to the sale of
property of a decedent.